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Financial Planning Toolkit

Financial Planning Toolkit

"Financial planning is not easy. Each individual is faced by a variety of issues based on their particular circumstances, while those circumstances and needs and options are continuously changing," said John Duoba, managing editor of Toolkit Media Group. "The Financial Planning Toolkit has been developed to help consumers make smart choices in purchasing, borrowing and investing based upon their situation, to help protect their families and their net worth."

As with the Business Owner's Toolkit -- one of the leading web sites for small businesses -- Financial Planning Toolkit is a free resource for consumers that effectively takes complex detail and transforms it into user-friendly information.

Lifecycle Approach to Financial Planning

The Financial Planning Toolkit is organized to help guide individuals through decisions that make sense at various life stages. This lifecycle approach provides the novice user with a logical place to start, while the detailed, drill-down table of contents provides more seasoned users with direct access to the particular detail they're seeking. Through more than 1,200 files, forms and tools, the key topics covered include:

  • Goal Setting -- covering the basics, such as why a financial plan should be developed, what to include and how to monitor your progress.
  • Investing -- a roadmap to understanding the different types of investment vehicles, how age and risk tolerance play a role in financial planning, and the consequences of various investments, including homeownership.
  • Insurance & Risk Management -- offering a guide through the maze of different types of health, disability and life insurance policies as well as the ins and outs of annuities and the level of property, liability or business insurance individuals may require depending upon their situation.
  • Retirement Planning -- a comprehensive examination of why and how to start planning and saving for retirement; understanding Social Security and the retirement saving vehicles available, such as 401(k) plans and IRAs, as well as non-qualified plans, including vested trusts and stock options. The site also provides a detailed discussion of special retirement planning situations, including the impact of divorce.
  • Estate Planning -- beyond retirement, this section details the steps to consider in passing wealth to the next generation, including why make a will and what to include as well as when to consider trusts in estate planning and how to minimize estate taxes.
  • Tax Planning -- a definitive resource for understanding and reducing your tax obligation, including exemptions, credits and deductions apply; how to report investment losses and gains and how to avoid an audit.

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